TradingTech Insight Brief
Goldman Sachs Distributes TT Platform to Clients
Goldman Sachs has contracted with Trading Technologies International (TT) to distribute the TT platform to its client base. This gives Goldman Sachs’ clients access to the TT platform’s range of trading tools, including Autospreader and TT’s advanced options analytics functionality. Clients can also access Goldman Sachs’ suite of internally developed execution algorithms via the TT platform.
DTCC Outlines Plan For No-touch Post-trade Processing
DTCC has outlined a vision for institutional trade processing that aims to realise the goal of STP by eliminating manual touch points. In a white paper, Re-Imagining Post-Trade: No-Touch Processing Within Reach, the company explains the need for a new approach and plans for achieving no-touch processing, including an effective way to leverage existing infrastructure. “We have a plan to create an open, integrated and resilient post-trade infrastructure that eliminates redundancies and manual processing across an increasing set of asset classes. It is designed so the trade lifecycle can be managed from one platform,” says Matthew Stauffer, managing director at DTCC.
QuantHouse Adds Goldman Sachs SIGMA X MTF Data to API Ecosystem
Goldman Sachs has teamed up with QuantHouse to accelerate market data distribution from its SIGMA X European multilateral trading facility (MTF). The data is accessible via the QuantHouse API Ecosystem and can be used to identify auctions and find potentially untapped, addressable liquidity. SIGMA X MTF offers deep and diverse liquidity on the basis of non-discretionary crossing with flow from external participants and the Goldman Sachs franchise. A recent analysis of SIGMA X MTF auction activity by Goldman Sachs found there is often a surplus of unexecuted liquidity in periodic auctions.
AkinovA Deploys Trading Platform on OpenFin
AkinovA, an electronic marketplace for the transfer and trading of re/insurance risk, has selected OpenFin for the deployment of its trading platform. The integration with OpenFin allows users to access the AkinovA marketplace with an easy-to-use interface that looks and feels like a native app experience while enabling instant deployment and upgrades. AkinovA is the first insurtech company running on OpenFin.
SEC Further Delays Rule 606
On September 4, in response to a new request from the Financial Information Forum and the Security Traders Association, the SEC extended the compliance deadline for Rule 606 amendments. This represents the second extension for the routing practices regulation, which was first proposed in November 2018 with an original deadline of May 2019, and subsequently delayed to October 2019. The latest extension pushes the implementation deadline back to January 1, 2020 for all broker-dealers for Rule 606(a) and for self-routing broker-dealers for Rule 606(b), and to April 1, 2020 for broker-dealers who outsource routing activity.
CISI Selects Bloomberg Buy-side Solutions
China Industrial Securities International Financial Group (CISI), a full-service financial group listed in Hong Kong, has adopted a broad range of Bloomberg’s buy-side solutions including its buy-side order management system, transaction cost analysis, liquidity assessment and Bloomberg Vault. These solutions will enable the group to navigate a fast-evolving global regulatory environment as it positions for international growth. Pan Li, head of asset management at CISI, says: “Bloomberg remains our technology partner of choice. We believe its advanced technology will help us differentiate our offering and attract new clients globally.”
Blaze Portfolio Partners Itiviti to Access NYFIX Services
Blaze Portfolio, a provider of scalable investment portfolio rebalancing and real-time trade order management software, has joined Itiviti’s Global Alliance Program, giving clients access to Itiviti’s NYFIX suite of services including a FIX connectivity network, monitoring and execution reporting. Blaze is also using NYFIX Matching, Itiviti’s post-trade solution that streamlines affirmation, allocation and confirmation matching services. Its clients also have access to Itiviti’s Transaction Cost Analysis services, a solution for measuring trade performance.
Sterling Trading Tech Releases Market Data Entitlement System
Sterling Trading Tech has released a market data entitlement system, The Sterling Entitlement Manager, that allows Sterling and its clients to follow compliance regulations when onboarding subscribers by using an automated verification process. The subscribers’ market data is then activated on the trading platform once approval from an exchange is granted. The solution is designed to make onboarding quick and efficient for traders by supporting electronically signed market data agreements. Sterling contracted industry expert MDMS (Market Data Management Solutions) to assist in developing the solution.
Itiviti Partners Brazilian Stock Exchange
Itiviti and B3, the Brazilian stock exchange, have partnered to ensure reliable connectivity between global firms and B3 members. As a member of Itiviti’s Global Alliance Program, B3 is able to provide its members with access to the services, including advanced analytics, monitoring and post-trade processing, Itiviti offers through its NYFIX portal. The partnership will also create a higher quality experience for all direct market access, drop copies and order messages for B3 members. The B3 agreement follows several other NYFIX partnerships across Latin America since the merger of Itiviti and Ullink in 2018.
Sensiple Partners TNS to Bring MiFID II Compliance Solution to Frankfurt
Capital markets specialist Sensiple is bringing its regtech product SETREGA for MiFID II, SFTR and EMIR compliance and reporting to the FR2 data centre in Frankfurt as part of an agreement with Transaction Network Services (TNS). Sensiple will use TNS’s managed hosting, colocation and connectivity service to give market participants fast, secure and efficient access to its regulatory data processing and reporting systems. Sensiple on TNS’s Software-as-a-Service solution replaces Sensiple’s existing client-hosted model.